NEW YORK, NY, DECEMBER 7, 2021 -- Compass, Inc. (NYSE: COMP), a leading technology-enabled residential real estate brokerage, today announced that it is launching a new Ranch + Land Division, dedicated to providing increased support to the growing number of Compass agents from across the country who specialize in the ranch and land real estate market. Leading the new division will be a real estate industry veteran and ranch and land expert, Cathy Cole, who will act as Sales Manager for the division.
“After three decades specializing in ranch and land real estate, I’m excited to continue the next chapter of my career with Compass,” said Cathy Cole, Compass Ranch + Land Division Sales Manager. “The networking and unparalleled support offered through Compass will help our growing number of ranch and land agents to meet demand for these properties across the country.”
Cole brings a strong track record of buying and selling some of the country’s most spectacular farms and ranches. She has amassed a record of success that includes being recognized by the South Central Texas Board of Realtors as the first two-time Realtor of the Year in 1997 and 2005. Cole also is deeply involved with the Texas Realtors Land Institute.
Compass’ new Ranch + Land Division will customize the company’s current tools and technology while providing additional support to meet the particular needs of the ever changing and growing rural real estate landscape.
Among the services included in the ranch and land program are comprehensive listing strategies, targeted buyer mapping, detailed market insights, exclusive events, and bespoke marketing initiatives, including digital, social, and print media offerings.
“Texas has seen incredible growth recently in the ranch and land space,” said Rachel Hocevar, Compass Regional President for Texas. “The Compass Ranch + Land Division will ensure that our amazing Compass agents across the country are equipped with unrivaled resources and support for their continued success.”
Compass is home to over 25,000 agents operating in over 60 markets in the U.S. Last quarter, Compass agents once again outperformed in a highly competitive real estate market delivering $69.1 billion in Gross Transaction Value[^1] and revenue of $1.74 billion. In the third quarter, Compass agents saw a 36% increase in transactions, outperforming the industry where transactions decreased 1% during the same period.[^2]
Cautionary Note Regarding Forward-Looking Statements
Statements contained in this press release that refer to future events or other non-historical facts are forward-looking statements that reflect Compass' current perspective on existing trends and information as of the date of this release. Statements containing words such as "will" or similar expressions constitute forward-looking statements. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from Compass' current expectations depending upon a number of factors affecting Compass' business, including, but not limited to, expansion into new markets, prevailing market conditions, the impact of general economic, industry or political conditions in the United States or internationally, and risks related to the impact of the COVID-19 pandemic. The foregoing list of risks and uncertainties is illustrative, but is not exhaustive. For information about other potential factors that could affect Compass' business and financial results, please review the "Risk Factors" described in Compass' Form 10-Q for the quarter ended September 30, 2021 filed with the Securities and Exchange Commission (the "SEC") on November 12, 2021, and Compass' other filings with the SEC. Except as may be required by law, Compass undertakes no obligation, and does not intend, to update these forward-looking statements after the date of this release.
[1] Gross Transaction Value is the sum of all closing sale prices for homes transacted by agents on the Compass platform (excluding rental transactions). We include the value of a single transaction twice when our agents serve both the home buyer and home seller in the transaction.
[2] We calculate Total Transactions by taking the sum of all transactions closed on the Compass platform in which our agent represented the buyer or seller in the purchase or sale of a home (excluding rental transactions). We include a single transaction twice when one or more Compass agents represent both the buyer and seller in any given transaction. (1)% figure based on NAR (National Association of Realtors) data as of September 2021.
